Cancer Biotherapy Market Could Reach $60 Billion in Ten Years

The market for innovative biotherapies in cancer treatment will nearly double in the next five years and reach US$60 billion in the next 10 years, according to new market research.

Although well established with several blockbuster products, the cancer biotherapeutics market has a lot of room for growth, according to life-science market research publisher Kalorama Information (New York, NY, USA). The biotherapy segment recorded a 34.1% annual growth rate since 2004 and is forecast to almost double by 2013. With sales of $24.5 billion in 2008, biologics currently represents about half of the total cancer treatment market; but Kalorama expects its market share to increase to 60% by 2013.

Several factors continue to fuel double-digit growth in biotherapeutics, including their success as a safer, more effective cancer therapy, the increasing incidence of cancer, and the increased cost for newly approved therapies in the biologic area.

Biotherapeutics includes monoclonal antibodies, interleukins/interferons, kinases, and other biotherapies. Monoclonal antibodies represent the largest of this market. But the highest growth has been and will continue to be in the kinases and other biotherapy segment where several new approvals have contributed to phenomenal annual growth.

"The future looks bright for biological cancer treatments,” remarked Melissa Elder, an analyst for Kalorama Information. "With many highly unpleasant and often dangerous side effects from traditional cancer treatments, the potential for targeted biologic therapies that help the body target malignant tumors while leaving healthy tissue intact offers hope to millions of suffering cancer patients.”

As the benefits of biologic therapies continue to be recognized, competition will likely intensify. Existing products will continue to lead the segment. However, innovative new products will display healthy growth and create new competition.

Kalorama Information provides independent market research in the life sciences, as well as a range of research services.

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